CarGurus, Inc. (NASDAQ:CARG) Stock Has Consensus Price Target of $40.25

CarGurus, Inc. (NASDAQ:CARG) has been given an average rating of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $40.25.

Several research analysts have issued reports on the stock. Needham & Company LLC lifted their target price on shares of CarGurus from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Royal Bank Of Canada lowered their target price on shares of CarGurus from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, November 6th. Citigroup increased their target price on CarGurus from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday. JPMorgan Chase & Co. cut their price target on CarGurus from $42.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 6th. Finally, Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st.

CarGurus Stock Up 0.1%

CARG stock opened at $34.59 on Wednesday. The business has a 50 day moving average of $32.11 and a 200 day moving average of $32.86. The firm has a market cap of $3.08 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. CarGurus has a twelve month low of $26.39 and a twelve month high of $41.22.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, November 5th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.66 by $0.04. CarGurus had a return on equity of 68.43% and a net margin of 18.51%. The business had revenue of $258.37 million for the quarter, compared to the consensus estimate of $256.46 million. During the same period in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts expect that CarGurus will post 2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at CarGurus

In other news, CMO Dafna Sarnoff sold 17,151 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $37.00, for a total value of $634,587.00. Following the completion of the sale, the chief marketing officer directly owned 109,668 shares in the company, valued at $4,057,716. This represents a 13.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $32.33, for a total value of $323,300.00. Following the completion of the transaction, the chief operating officer directly owned 419,735 shares in the company, valued at approximately $13,570,032.55. This represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 72,846 shares of company stock valued at $2,442,395 over the last three months. Insiders own 18.19% of the company’s stock.

Institutional Trading of CarGurus

Several hedge funds have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. lifted its position in shares of CarGurus by 69.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 120,100 shares of the company’s stock valued at $3,742,000 after buying an additional 49,400 shares in the last quarter. Voya Investment Management LLC raised its position in shares of CarGurus by 3.9% during the 3rd quarter. Voya Investment Management LLC now owns 125,551 shares of the company’s stock valued at $3,912,000 after purchasing an additional 4,660 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of CarGurus by 53.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 554,113 shares of the company’s stock valued at $16,202,000 after buying an additional 192,709 shares in the last quarter. Cibc World Market Inc. boosted its holdings in CarGurus by 66.3% in the 3rd quarter. Cibc World Market Inc. now owns 17,164 shares of the company’s stock worth $510,000 after buying an additional 6,842 shares during the period. Finally, Edgestream Partners L.P. bought a new position in CarGurus in the 3rd quarter worth $5,507,000. Institutional investors own 86.90% of the company’s stock.

CarGurus Company Profile

CarGurus, Inc. operates an online automotive marketplace that helps consumers research and compare vehicles and connect with dealerships. Its website and mobile apps feature new and used vehicle listings, search tools, vehicle information and pricing insights designed to help shoppers evaluate available cars. The company also provides dealerships with products and services to market inventory and engage with potential buyers through its platform. CarGurus was founded in 2006 by Langley Steinert, who previously co-founded TripAdvisor, and is headquartered in Cambridge, Massachusetts.